Mar 2021
Bermuda is a leading international financial centre and maintains a comprehensive body of primary legislation relating to money laundering and terrorist financing, supported by a range of general and sector specific (insurers, lawyers, accountants, amongst others) Guidance Notes issued by the Bermuda Monetary Authority (BMA).
The legislation and Guidance Notes together comprise a comprehensive code aimed at the prevention, discouragement, detection and prosecution of money-laundering and terrorist financing related offences in Bermuda.
Patrick Devine, Head of Advisory, Conyers Regulatory Services, outlines the Bermuda framework for its anti-money laundering and terrorist financing regime in an update published by the Thomson Reuters Regulatory Intelligence on 1st March 2021.